Chana futures remain weak on increased arrivals

Chana prices continued to slide and shed another Rs 6 to Rs 2,454 per quintal in futures trade today on adequate stocks in the market.

At the National Commodity and Derivatives Exchange, chana for delivery in April lost Rs 6, or 0.24%, to Rs 2,454 per quintal, with an open interest of 94,520 lots.

Similarly, the commodity for delivery in May declined by Rs 4, or 0.16%, to Rs 2,501 per quintal, with a business turnover of 67,010 lots.

Analysts said rising arrivals of new crop in the spot market against sluggish demand led to the fall in chana futures prices.